WESCO International (NYSE:WCC) Sets New 52-Week High Following Analyst Upgrade

WESCO International, Inc. (NYSE:WCC)’s share price reached a new 52-week high on Wednesday after Stephens raised their price target on the stock from $190.00 to $205.00. Stephens currently has an overweight rating on the stock. WESCO International traded as high as $208.89 and last traded at $208.89, with a volume of 83136 shares. The stock had previously closed at $187.81.

Several other research firms have also recently weighed in on WCC. Oppenheimer upped their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird raised their price target on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Loop Capital upped their price objective on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $208.86.

Insiders Place Their Bets

In related news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

A number of hedge funds and other institutional investors have recently modified their holdings of WCC. Pacer Advisors Inc. boosted its stake in shares of WESCO International by 23,727.4% in the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after acquiring an additional 1,582,379 shares during the period. Clearbridge Investments LLC purchased a new stake in WESCO International during the 2nd quarter valued at approximately $52,782,000. Neo Ivy Capital Management bought a new stake in shares of WESCO International during the second quarter valued at approximately $5,916,000. Russell Investments Group Ltd. boosted its position in shares of WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after acquiring an additional 31,200 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after acquiring an additional 17,682 shares in the last quarter. 93.76% of the stock is owned by hedge funds and other institutional investors.

WESCO International Stock Up 8.9 %

The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average of $169.02 and a 200-day moving average of $168.12. The stock has a market cap of $10.05 billion, a PE ratio of 15.05, a P/E/G ratio of 1.52 and a beta of 2.01.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $4.49 earnings per share. Equities research analysts predict that WESCO International, Inc. will post 12.18 EPS for the current fiscal year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.81%. WESCO International’s dividend payout ratio (DPR) is 13.21%.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).